sole trader tax returns

Sole traders are individuals operating a business in their own right. They can trade under their personal name or a registered business name. A Sole Trader is required to lodge an annual personal tax return with the ATO.

Sole trader tax return form is same as the other individual tax return but you need to report the following:

  • the supplementary section
  • business and professional items schedule

The tax rates for sole trader income are same as individual taxpayers. However, you may be eligible for the small business tax offset that can reduce your tax payable amounts. 

Why should I use TSK Accountants services to prepare my sole trader tax return?

Sole trader return is a business tax return that should be prepared by experienced business accountants, such as TSK Accountants.

  • we listen to you to better understand your business, not just your tax so we are better positioned to help you report correctly.
  • we try our best to achieve the best results for you.
  • we give you specific and detailed advice on how to keep your business record.
  • we provide advice when you should change your business structure from a sole trader to a company or trust.
  • we help you claim all the legitimate expenses, such as concessional contributions, home office, and motor vehicle expenses etc.
  • we will minimize your capital gain tax when you sell your sole trader business.
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